Please share a source. I googled this with several different variations of quoting and only saw your HN comment
Re:
by AnimalMuppet on Saturday October 29, 2022 @12:26PM
(#33385521)
What the Fed actually said is that they need to raise interest rates to get inflation under control, even though that will likely cause greater unemployment. Various people twist this into the Fed saying that unemployment is the goal, instead of a negative side effect.
I don't know why people twist things in this way, but I've seen people repeatedly do so.
Re:
by galaxyLogic on Monday October 31, 2022 @03:00AM
(#33402767)
It is easy to understand that way. If people lose their jobs that will reduce demand which will reduce inflation. The goal of Fed is to reduce inflation and one way of getting there is to slow down the economy which causes more unemployment.
But Fed has another goal too which is preventing unemployment. They are in a twist.
What he said was "there will very likely be some softening of labor market conditions", which was interpreted to mean increased unemployment.
source with video: https://twitter.com/CNBC/status/1563172126945067009
The Federal Reserve Chairman actually said this in a speech several months ago.
Maybe if we sacrifice a lamb, things will get better.
For this unemployment "solution" to work, more people have to be out of work. Sacrificial lambs in 2022.
As things improve, "the rising tide will lift all boats". Except for the sacrificial lambs who will sink like stones.